BLACKSTONE CHARITABLE FOUNDATION FUNDS ONE HEN, INC. PROGRAM EXPANSION TO MIDDLE SCHOOL

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) August 30, 2011 --

BOSTON - August, 31, 2011 - The Blackstone Charitable Foundation became the cornerstone funder this month of One Hen Academy’s expansion to middle school, awarding One Hen $100,000 to build and pilot its middle school curriculum in Detroit in partnership with National Heritage Academies (NHA), which operate 71 public charter schools in nine states. This grant to One Hen builds on the Blackstone Charitable Foundation’s $2 million investment to the Detroit region in April 2010 with the Blackstone LaunchPad program at Walsh College and Wayne State University. One Hen, founded in 2009, uses microfinance principles to teach hands-on entrepreneurship and financial literacy with a focus on disadvantaged communities. To date, it has delivered programming to more than 17,300 U.S. elementary school students through partnerships with school and summer- and after-school networks.

“We are excited to have the Blackstone Charitable Foundation and NHA as partners as we extend One Hen’s innovative entrepreneurship program from elementary to middle school. Studies show that sixth grade is a ‘spark plug’ year, where students think in earnest about “what they want to be,” and have the skills to begin testing the dream. In disadvantaged communities, it is also the year where many students begin to slide out of the system,” states Amma Sefa-Dedeh, One Hen Executive Director.

According to a report by the Partnership for 21st Century Skills: over 30% of American high school students -many from low income communities- graduate without such vital applied skills as problem-solving, global awareness, financial literacy, and social responsibility. Additional evidence shows low income students are three times more likely to drop out of school (National Association for Educational Progress, 2009); do poorly in school, with less than 17% of them proficient in reading, math or writing (Lee, Grigg & Dion,2007); have poor financial habits; and unemployment rates as high as 74.6% (Sum, Khatiwada et al, August 2009).

"The Blackstone Charitable Foundation is proud to support One Hen, as part of its $50 million Entrepreneurship Initiative," said Amy Stursberg, Executive Director of the Blackstone Charitable Foundation. "Instilling entrepreneurial spirit and know-how at the earliest ages is a ground breaking approach that will help foster the next generation of entrepreneurs. The economic future of the country is in the hands of these young entrepreneurs and we are pleased to be partnering with One Hen to start them on a path toward innovation and discovery."

One Hen: Microfinance for Kids Academy uses interactive media, business teaming and microcredit to teach students the basics of business and money management. Students receive micro-loans to start an entrepreneurial venture and use their profits to help others. The One Hen programs equip children with the basic financial literacy they need to develop sound economic skills and values. Pre- and post-testing of participating students has shown a doubling of business math comprehension, 60% rise in students’ belief they could start a business and up to fivefold increases in their desire to share gains with others in need.

One Hen, whose program delivery partners include BELL National and City Year, will launch their middle school initiative with NHA, based in Grand Rapids, Mich. NHA charter schools operate in several states in the Midwest, as well as Colorado, Georgia, Louisiana and New York, serving many disadvantaged students. Following the successful completion of the Detroit middle school pilot, One Hen and NHA will look to expand in-school programming and create web modules, lesson plans and workbooks available to all teachers at www.oneheninc.org.

“One Hen’s Microfinance for Kids is the perfect capstone course for our middle school students. It combines financial responsibility, personal initiative, global awareness and the importance of giving back in a hands on, real world experience.” said David Palumbo, CIO, National Heritage Academies.

About One Hen, Inc:

One Hen, Inc., launched in 2009, equips educators with stories, interactive media and grades 3-to-8 lesson plans and curriculum to inspire kids to four values: financial responsibility, personal initiative, global awareness and giving back and to teach basic business skills. Our mission is to empower all kids to become social entrepreneurs, who make a difference for themselves and the world. Each of our programs, One Hen: Microfinance for Kids and The Good Garden: Food Security for Kids, introduce a compelling social issue, around which we provide flexible curriculum resources, including lesson plans, interactive games, teacher manuals, student workbooks and hands on projects. To date, over 17,300 students and educators from 142 countries and across the U.S. and Canada are utilizing One Hen resources in schools, after schools and summer schools. Visit www.onehen.org and www.thegoodgarden.org.

About The Blackstone Charitable Foundation:

The Blackstone Charitable Foundation was founded at the time of The Blackstone Group’s Initial Public Offering in 2007 with substantial commitments from the Firm’s employees. Influenced by the enterprising heritage of the firm and its founders, The Blackstone Charitable Foundation is directing its resources and applying the intellectual capital of the firm to foster entrepreneurship in areas hardest hit by the global economic crisis. Through its investment expertise across several asset classes and geographies, Blackstone has a unique perspective on the global economy and a heightened understanding of how entrepreneurial activity is often the crucial catalyst in the growth of successful businesses, industries and communities. For more information, please visit: http://www.blackstone.com/CharitableFoundation.htm

About National Heritage Academies:
NHA partners with community groups to build and operate K-8 tuition-free public charter schools. For the 2011-12 school year, NHA partners with 71 schools in nine states serving more than 43,000 students. NHA schools are designed to eliminate achievement gaps and provide school choice to families while preparing children for success in high school, college and beyond. For more information, visit www.nhaschools.com.

More information can be found online at http://www.oneheninc.org

After school programs     disadvantaged youth program     entrepreneurship     financial literacy for kids     global citizenship     Middle School     Social Entrepreneurship     summer school